William Buck New Zealand
As a fully integrated firm of Chartered Accountants and advisors, William Buck provides a complete solution. Putting you at the core of the business, our advisors work together to ensure that careful consideration is given to your business and personal wealth affairs.
Working closely with you and your team, our Business Advisors can help you plan and implement contemporary business strategies and practices to meet your business’s full potential.
Our commercially minded tax specialists offer clear, responsive advice to manage your tax risk, address local and international issues, and develop strategies to optimise your tax position.
Our highly experienced team of liquidators and trustees use their extensive expertise to assist in times of financial distress, achieving the best outcome for all stakeholders.
Our audit team has extensive experience in a range of engagements, giving stakeholders independent and objective assurance on financial information, transactions and processes.
By understanding not only what you want to achieve but why it’s important, our wealth advisors can create strategies attuned to your key priorities. The end result is a plan focused on your life goals.
Our Corporate Advisory team provides objective, strategic and commercial advice across a broad range of business issues. Our work spans the breadth each engagement from the origination of ideas to managing the transaction process, valuation and structuring.
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Sweeping changes to financial reporting may impact your financial position and business operations.
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William Buck has a team of professionals with specialist experience and know-how on a range of industry sectors.
Our advisors understand the risks and opportunities unique to the agribusiness sector. Taking a strategic view of your operations they provide relevant guidance and advice.
Assisting public and private schools, vocational colleges, universities and private training providers, our education specialists provide timely and valuable assurance services together with strategic, financial and management advice.
Our Government and public sector team has substantial experience in assisting all levels of government to review their structures and develop strategies, in line with relevant legislative requirements and accounting and audit standards.
Working with over 1,600 clients in the health sector, our advisors help practitioners and health care corporates achieve their business and personal goals
Our hospitality and tourism team has a working knowledge of the industry which, when combined with our technical knowledge, can assist you in reaching your commercial goals.
By staying on top of changes in the manufacturing sector, our industry experts provide relevant and timely guidance to a broad range of manufacturing business.
Our mining and energy team has the experience and resources to help start-ups, developing businesses and well-established companies to meet their commercial goals.
Integrity and transparency are at the heart of the best Not for Profit organisations. These values re shared by our dedicated Not for Profit team, which helps entities to establish to improve performance and develop strategies for long-term growth.
Our advisors understand the challenges and opportunities facing the professional services sector first hand. This experience together with our expertise helps to determine your strategic objectives and provide concise, relevant advice to help you achieve your goals.
Our property and construction team assist on a wide range of assignments from property development to construction and large infrastructure projects. Their diverse experience, technical expertise and commercial know-how to help you tackle the important issues.
Our retail and wholesale team works with a variety of businesses from family owned operations to franchises and larger chains, to provide advice and guidance on the issues that count.
Our transport and distribution team works with businesses to review their operations, improve efficiency and productivity and ensure compliance with the latest regulatory developments.
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We work with individuals, businesses and community organisations with a particular focus on the mid-market. Drawing on our extensive experience, our advisors will challenge your thinking and re-frame problems to understand their root-cause.
We’re more than just accountants and advisors, we aspire to create positive change in the lives of our clients and our people.
Life as a CFO can be complex, exciting and demanding. Combining technical excellence with decades of working closely with and listening to the needs of CFOs, our advisors understand the competing demands of your role.
Whatever your needs, we have the expert resources to create the best outcome for you and your business. As our client, you’ll benefit from our integrated services model that puts you at the core of its business.
We create and implement personal wealth plans and tax strategies that give our clients greater certainty that their financial and personal goals will be met.
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Our professionals are experts in their fields and are skilled at providing jargon-free, practical and comprehensive advice, allowing you to get to the heart of your matter.
Interested in joining our team? We have positions across Australia and New Zealand for forward thinking, enthusiastic, intelligent individuals.
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We foster a dynamic and respectful work culture, where growth and development are encouraged, and initiative is rewarded.
We’re committed to recruiting outstanding people. Our culture is built on respect and team work, making William Buck a great place to develop a rewarding career. From day one, you will be given every opportunity to realise your full potential.
We boast a culture that values each individual employee as an essential part of the team and places a high priority on helping you reach your full potential, personally and professionally.
Hello. Kia Ora. Talofa. Ni Ho. However, you say it, there’s always a warm welcome at William Buck. Creating an enjoyable environment to spend our days is part of our master plan to create an exceptional place to work.
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Established in 1895, we’re more than just advisors; offering a full range of services and 360 degree support, we aspire to create a positive change in the lives of our clients and our people.
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By CHRIS RYLANDS
RESEARCH MANAGER, WEALTH ADVISORY
In the final part of our Fixed Income Focus we will summarise our current investment strategy and explain how it is implemented via our approved managed funds. Our preference is to use managed funds to invest in fixed income because they provide cost effective access to a wide range of securities and markets. It is extremely difficult for an investor to achieve diversification outside a fund because most markets cannot be directly accessed.
A managed fund must satisfy numerous criteria prior to being approved by our Investment Committee. Some of the things we consider are:
The fund’s investment approach must also align with our current investment strategy. A summary of the key aspects of this strategy are outlined below.
Preservation of capital
Fixed interest is held for defensive reasons. It should generate a reasonable return without exposing an investor’s capital to excessive risk. The temptation in a low interest rate environment is to invest in a fixed interest managed fund which is delivering an unusually high return. The investment manager is usually generating these returns by investing in higher risk securities. This strategy usually results in the investor losing more capital than the additional income which originally attracted them to the investment.
In the current environment our preference is to allocate to investment managers who implement conservative investment strategies. They would prefer to retain funds in cash rather than invest in securities which carry a higher risk of capital loss, even if this means lower returns in the short to medium term.
Investing in securities with a higher credit rating lowers the chance of capital loss. A credit rating agency assists an investor to determine which securities satisfy this criteria. The table below summarises the rating scale provide by the two of major rating agencies. The highest rating a security can achieve is AAA. The investment managers in our portfolio remain focused on the highest quality areas of the market, holding securities with an average credit rating of A to AA.
Liquidity means you are able to sell an investment at a price which reflects the underlying value of the investment. Liquidity is very important when a portfolio is required to fund pension payments or other liabilities. Higher risk securities generally have less liquidity. For example, there have been instances in the listed hybrid market where no trades have occurred for an extended period of time. We favour investment managers who pay strict attention to portfolio liquidity as part of their investment process.
Diversification is a key part of any portfolio. In the fixed income sector diversification is achieved by investing across a wide range of securities both domestically and overseas. For example, one of our investment managers invests in over 500 different securities. Whilst this may seem like a high number it is necessary given the global fixed income market is significantly larger than the global equity market.
Based on the above investment strategy our fixed interest portfolios remain focused on government bonds, semi-government bonds, high quality corporates and cash like investments. We are avoiding any material exposure to sectors which are contradictory to this strategy, including hybrid securities, high yield bonds and emerging market debt.
This concludes our focus on the fixed income sector. In the next edition of Private Wealth View we will focus on a new topic relevant to your investment portfolio.